Pirelli will return to F1 next season for the first time since 1991. The Milan-based firm will supply all the Formula One teams from 2011-2013 with six types of tyre: four for dry weather, one for rain and one intermediate tyre. Pirelli – which has supplied tyres exclusively for the GP3 championship this year – will also supply the GP2 championship from 2011, becoming the sole provider of tyres for the most prestigious single-seater championships in global motorsport.

Here is the full text of Pirelli press release on F1 and GP2:

Milan, 23 June 2010 – Pirelli will supply tyres to the Formula One World Championship for a three-year period between 2011 and 2013.

The FIA (Fédération Internationale de l’Automobile), the Teams, represented by FOTA (the Formula One Teams Association), and Formula One’s organising body, represented by FOM (Formula One Management) have chosen Pirelli as their exclusive supplier, based on the specific proposals from the Italian company to guarantee technical and operational stability to the competitors.

Following current Formula One regulations laid down by world motorsport’s governing body, the FIA, the new contract ensures that Pirelli will provide teams with six different types of tyre for the season: four slicks, with different compounds for various types of dry surfaces, one rain tyre for heavy rain, and one intermediate tyre for damp conditions or light rain.

The current economic climate has led to a realistic and collaborative approach with all the teams, ensuring that manufacturing and logistical costs are shared fairly.

Pirelli’s return to Formula One also has a firm eye on the future, as in full collaboration with all the teams, research into innovative new tyre developments is a vital part of this exciting programme.

Pirelli is also proud to announce that it will supply the GP2 World Series – the acknowledged stepping-stone to Formula One – for the three-year period between 2011-2013.

Pirelli’s latest participation at the highest levels of single-seater racing make a welcome addition to the celebrated Italian firm’s other motorsport activities including, from this year, a tyre supply agreement for the inaugural GP3 series. Pirelli will consequently become the single supplier to all the most prestigious racing championships in the world from 2011.

Pirelli is planning to make important investments in corporate communications, in order to make the most of the high profile and cutting-edge technology that go hand in hand with supplying Formula One, using resources and budget that has already been set aside for this purpose.

This communications campaign will principally help to support Pirelli’s increasing profile in emerging markets: Latin America, the Middle East and Asia Pacific, which are all areas frequently visted by Formula One.

Consequently Formula One will become a vital calling card for the Pirelli brand, helping its commercial and industrial expansion without disrupting the company’s long-term financial strategy.

The global visibility guaranteed through extensive media interest in Formula One, together with dynamic plans to leverage Pirelli’s involvement in an activity central to the company’s core business, represents a unique opportunity for the brand to maximise its return on investment.

This new Formula One agreement crowns Pirelli’s historic involvement in world motorsport, which dates back to 1907 when the Italian fim won the epic Paris-Peking road race. Pirelli currently exclusively supplies some of the most important World Championships for both cars and bikes, such as the GP3 series, the World Rally Championship, the Rolex Sports Car Series in North America, the World Superbike Championship, and the Motocross World Championship. On top of this, Pirelli also supplies more than 70 other national and international championships. The last Grand Prix victory claimed by Pirelli was the 1991 Canadian Grand Prix, with Nelson Piquet driving for Benetton.

A whole new try change phase will kick off again just wht happened after the Michilin exit. Renault took time adjusting and this time, all of the teams will have to adjust to the new compound Pirelli has to offer.
Plus im a little doubtful with the competence of Pirelli… Lets see if they develop tyres as Bridgeston did…